Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
Ranveer Allahbadia has been facing a lot of difficulties since the objectionable controversy in '
Ayesha suicide case: what was the video made for her husband, what is the truth?
"If he wants freedom from me then he should get freedom. My life is still here. I am happy that I
The countdown to the T20 World Cup 2024 has started. This tournament is to start on June 1 under
Once again the fire of violence is blazing in Manipur. Two commandos of Manipur Police have been
There is currently relief from the cold in many states of North India. The Meteorological Departm
Final options like lockdown are the last option to prevent corona infection: CM Shivraj
Corona continues to wreak havoc all over the country. Meanwhile, there are increasing cases of co
There has been a decrease in the foreign currency assets of the country again. It has registered
Today is the last day of the auction of gifts received by Prime Minister Narendra Modi. This auct
China's spy ship Yuan Wang-5 is moving towards Sri Lanka for reconnaissance of India at a speed o
With the withdrawal of major corona restrictions in China, the possibility of corona spreading ag
